Information transport and processing by pure magnonic spin currents in insulators is a promising alternative to conventional charge-current driven spintronic devices. The absence of Joule heating as well as the reduced spin wave damping in insulating ferromagnets has been suggested to enable the implementation of efficient logic devices. After the proof of concept for a logic majority gate based on the superposition of spin waves has been successfully demonstrated, further components are required to perform complex logic operations. A key component is a switch that corresponds to a conventional magnetoresistive spin valve. Here, we report on magnetization orientation dependent spin signal detection in collinear magnetic multilayers with spin transport by magnonic spin currents. We find in Y3Fe5O12|CoO|Co tri-layers that the detected spin signal depends on the relative alignment of Y3Fe5O12 and Co. This demonstrates a spin valve behavior with an effect amplitude of 120% in our systems. We demonstrate the reliability of the effect and investigate the origin by both temperature and power dependent measurements, showing that spin rectification effects and a magnetic layer alignment dependent spin transport effect result in the measured signal.